Archived IMT (2010.02.08)

Quiet trade in FX after the Thursday storm and Friday confusion of the US jobs report. The paring of long USD and JPY positions gives way to modest gains in EUR and GBP but that is not encouraging gold or oil traders to lift bids beyond 1070 or 72.50. GBPUSD's deteriorating technicals may allow for a recovery of no more than $1.57 before traders retrenchy ahead key UK data & BoE inflation report. EURGBP vulnerable to 0.8700.